Dear friends,
we are on a platform called Caclubindia, its members consits of Qualified CAs, Ca students, MBA student specially finance, and many others.
there is sucess story behind each and every qualified persons,
lets us welcome the members...............to share their stories............. who wants to share their sucess stories
all are welcome with their stories, comments and views......
let us start with our Institute,
regards, Amrish
The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its nearly six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.ICAI now is the second largest accounting body in the whole world.
History
1857
The first ever Companies Act in India legislated.
1866
Law relating to maintenance of accounts and audit thereof introduced.
Formal qualification as auditor now required.
1913
New Companies Act enacted.
Books of accounts to be maintained specified.
Formal qualification to act as auditor named. A Certificate from the local government to be held in order to act as auditor. An unrestricted Certificate entitled a person to act as auditor throughout British India. A Restricted Certificate entitled him to act as auditor only within the Province concerned and in the languages specified in the certificate.
1918
Government Diploma in Accounting (GDA) launched in Bombay. On completion of articleship of three years under an approved accountant and passing the Qualifying Examination the candidate would become eligible for the grant of an Unrestricted Certificate.
1920
The issue of Restricted Certificates discontinued.
1927
Society of Auditors founded in Madras.
1930
Register of Accountants (RA) to be maintained by the Government of India to exercise control over the members in practice. Those whose names found entry here were called Registered Accountants (RA).
1930
The Governor General in Council replaced the local government as the statutory authority to grant certificates to persons entitling them to act as auditors.
Auditors allowed to practice throughout India.
1932
First Accountancy Board formed. The Board was to advise the Governor General in Council on matters relating to accountancy and to assist him in maintaining standards of qualification and conduct required of auditors.
1933
First examination held by the Indian Accountancy Board. GDAs exempted from taking the test.
1935
The first Final Examination was held. GDAs exempted from taking the test.
1943
GDA abolished.
1948
Expert Committee formed to examine the scheme of an autonomous association of accountants in India.
1949
The Chartered Accountants Act, 1949 was passed on 1st May. The term Chartered Accountant came to be used in place of Indian Registered Accountants.
Chartered Accountants Act was brought into effect on 1st July. The Institute of Chartered Accountants of India is born.
1999
ICAI completed 50 years on 1st July 1999.
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